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Apogee Expects Positive Impact From New Auto Glass Distribution Venture With PPG

31 July 2000

Apogee Expects Positive Impact From New Auto Glass Distribution Venture With PPG

    MINNEAPOLIS - Apogee Enterprises, Inc. today announced that formation of PPG 
Auto Glass L.L.C. is expected to have a neutral impact on its FY2001 earnings 
and a positive impact on its FY2002 earnings.  The joint venture combining the 
U.S. automotive replacement glass distribution businesses of PPG Industries of 
Pittsburgh and Apogee began operations today.  (See related news release on the 
closing and new management team issued earlier today.)

    "The new PPG Auto Glass brings efficiencies to the wholesale auto
replacement glass distribution business that should contribute to our earnings
long-term," said Russell Huffer, chairman and chief executive officer. "This
venture brings together two market leaders, creating an enterprise with
unmatched geographic coverage and operational expertise.  We are encouraged by
the spirit and progress of the joint venture during the integration phase."

    He explained that during the third quarter, Apogee will absorb its
ownership portion of the new venture's rationalization charges.  "These costs
should be absorbed by the ongoing operations of the venture, making the
financial impact to Apogee neutral for this fiscal year," said Huffer.
"Moving ahead to FY2002, we expect the new venture to have a net positive
impact for the year of 10 to 15 cents per diluted share for Apogee."  Apogee
owns 34 percent of the auto replacement glass distribution venture.

    The new venture does not include Apogee's auto replacement glass
manufacturing and retail installation operations.

    Apogee is a world leader in technologies involving the design and 
development of value-added glass products, services and systems.  The company is 
organized into two business segments; the Glass Technologies businesses are 
leaders primarily in architectural glass and high-end glass coatings for 
electronics, while the Glass Services businesses are leaders in replacement auto 
glass and building glass services.  Apogee's annual sales are nearly $1 billion.